Star Mountain Capital closed a $225 million asset-based leverage facility led by ING Capital. The lending group consists of ING, CIT, TIAA Bank, Axos Bank, East West Bank, Georgia Banking Company and Customers Bank.
Journey Medical, a partner company of Fortress Biotech, entered into an agreement with East West Bank in which EWB will provide a $7.5 million working capital line of credit.
Drip Capital, a fintech provider of cross-border trade finance, and East West Bank closed a $40 million committed credit facility for the expansion of Drip’s trade finance solutions to small and medium-sized businesses.
Capital Southwest provided Mountaingate Capital with a senior secured first lien term loan and delayed draw facility (in which East West Bank was a co-lender) in support of its investment in Acceleration Partners. East West Bank also provided a revolver.
Investec Power and Infrastructure Finance acted as sole bookrunner, coordinating lead arranger and administrative agent on a seven-year, $200 million debt financing facility for a holding company of Cypress Creek Renewables.
East West Bank closed a refinancing agreement with Enservco, cutting the oilfield services provider’s bank debt nearly in half and increasing its shareholders’ equity by approximately $17.5 million.
Enservco signed a non-binding letter of intent with East West Bank to amend its existing senior revolving credit facility to reduce bank debt by $16 million, amend the current facility into a term loan and provide a new working capital revolving line of credit in exchange for equity.
Conformis amended the quarterly financial covenants contained in its loan and security agreement, dated June 25, 2019, with Innovatus Life Sciences Lending Fund I as collateral agent and lender, as well as East West Bank and other lenders.
The American Bankruptcy Institute selected Chief Bankruptcy Judge Barbara J. Houser as president of the board of directors for a one-year term. In addition to Houser’s appointment, Robert P. Reynolds was named president-elect and will become president in April 2021.